Attached files
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EX-31.2 - EXHIBIT 31.2 - LADENBURG THALMANN FINANCIAL SERVICES INC. | a2017-10kexhibit312.htm |
EX-32.2 - EXHIBIT 32.2 - LADENBURG THALMANN FINANCIAL SERVICES INC. | a2017-10kexhibit322.htm |
EX-32.1 - EXHIBIT 32.1 - LADENBURG THALMANN FINANCIAL SERVICES INC. | a2017-10kexhibit321.htm |
EX-31.1 - EXHIBIT 31.1 - LADENBURG THALMANN FINANCIAL SERVICES INC. | a2017-10kexhibit311.htm |
EX-23.1 - EXHIBIT 23.1 - LADENBURG THALMANN FINANCIAL SERVICES INC. | a2017-10kexhibit231.htm |
EX-21 - EXHIBIT 21 - LADENBURG THALMANN FINANCIAL SERVICES INC. | a2017-10kexhibit21.htm |
10-K - 10-K - LADENBURG THALMANN FINANCIAL SERVICES INC. | ladenburgthalmann201710-k.htm |
EXHIBIT 12.1
Ladenburg Thalmann Financial Services Inc.
Ratio of Earnings to Fixed Charges
and Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends
(dollars in thousands)
Year Ended December 31, | |||||||||||||||||||||
2017 | 2016 | 2015 | 2014 | 2013 | |||||||||||||||||
Ratio of Earnings to Fixed Charges | |||||||||||||||||||||
Income (loss) before income taxes | $ | 1,180 | $ | (12,286 | ) | $ | (11,695 | ) | $ | 10,006 | $ | 2,404 | |||||||||
Add: Fixed charges | 5,829 | 7,486 | 8,435 | 9,337 | 17,534 | ||||||||||||||||
Income (loss) before income taxes and fixed charges | $ | 7,009 | $ | (4,800 | ) | $ | (3,260 | ) | $ | 19,343 | $ | 19,938 | |||||||||
Fixed Charges: | |||||||||||||||||||||
Total interest expense | $ | 2,710 | $ | 4,262 | $ | 5,169 | $ | 6,990 | $ | 15,438 | |||||||||||
Interest factor in rents (1) | 3,119 | 3,224 | 3,266 | 2,347 | 2,096 | ||||||||||||||||
Total fixed charges | 5,829 | $ | 7,486 | $ | 8,435 | $ | 9,337 | $ | 17,534 | ||||||||||||
Ratio of earnings to fixed charges | 1.2 | * | * | 2.1 | 1.1 | ||||||||||||||||
* Deficiency of earnings available to cover fixed charges | $ | — | $ | (12,286 | ) | $ | (11,695 | ) | $ | — | $ | — | |||||||||
Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends | |||||||||||||||||||||
Income (loss) before income taxes | $ | 1,180 | $ | (12,286 | ) | $ | (11,695 | ) | $ | 10,006 | $ | 2,404 | |||||||||
Add: Fixed charges | 5,829 | 7,486 | 8,435 | 9,337 | 17,534 | ||||||||||||||||
Income (loss) before income taxes and combined fixed charges | $ | 7,009 | $ | (4,800 | ) | $ | (3,260 | ) | $ | 19,343 | $ | 19,938 | |||||||||
Fixed Charges: | |||||||||||||||||||||
Total interest expense | $ | 2,710 | $ | 4,262 | $ | 5,169 | $ | 6,990 | $ | 15,438 | |||||||||||
Interest factor in rents (1) | 3,119 | 3,224 | 3,266 | 2,347 | 2,096 | ||||||||||||||||
Preferred stock dividends (2) | 54,137 | 50,730 | 46,847 | 28,740 | 11,518 | ||||||||||||||||
Total combined fixed charges and preferred stock dividends | $ | 59,966 | $ | 58,216 | $ | 55,282 | $ | 38,077 | $ | 29,052 | |||||||||||
Ratio of earnings to combined fixed charges and preferred stock dividends | * | * | * | * | * | ||||||||||||||||
* Deficiency of earnings available to cover fixed charges and preferred stock dividends | $ | (52,957 | ) | $ | (63,016 | ) | $ | (58,542 | ) | $ | (18,734 | ) | $ | (9,114 | ) | ||||||
(1) One-third of rent expense is the portion deemed representative of the interest factor.
(2) The preferred stock dividend amounts represent pre-tax earnings required to cover dividends on preferred stock.